SYDNEY, Aug. 6, 2017 /PRNewswire/ -- CME Group, the
world's leading and most diverse derivatives marketplace, today
announced the first trades of the Australian Wheat FOB (Platts)
futures contract, that launched on 24 July 2017. The trade
that took place on 3 August 2017 was
brokered by SCB Group. A total of 60 futures contracts,
equaling 3,000 metric tons, were traded.
"We are very excited to see industry interest and support for
the new Australian Wheat FOB (Platts) futures contract," said
Tim Andriesen, Managing Director,
Agricultural Products, CME Group. "This contract further
enhances CME Group's already broad range of hedging and trading
tools for managing exposure to wheat price risk around the globe,
helping us better serve our wheat customers both globally and in
Asia Pacific."
"We are very pleased to broker the first Australian Wheat FOB
(Platts) futures contract as it finally provides the global wheat
market access to the international export price of Australian wheat
via a financially-settled contract," said James McKay, a broker at SCB Group. "It
gives the trade a chance to better manage price risk and it will
provide industry participants greater flexibility with which to run
their businesses, whether they are an exporter, Asian consumer or
any other business around the world with an interest in Australian
wheat."
This new Australian Wheat FOB (Platts) Futures contract
complements CME Group's existing suite of Euro-denominated EU
Wheat, Soft Red Winter Wheat (SRW), Hard Red Winter Wheat (HRW) and
Black Sea Wheat futures contract. For more information on
this new Australian Wheat FOB (Platts) Futures contract, please
visit:-
http://www.cmegroup.com/trading/agricultural/grain-and-oilseed/australian-wheat-fob-futures.html
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which offer clearing and settlement services across asset classes
for exchange-traded and over-the-counter derivatives. CME
Group's products and services ensure that businesses around the
world can effectively manage risk and achieve growth.
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CME-G
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SOURCE CME Group